Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.1% lower at 17895, signalling that Dalal Street was headed for a flat to negative start on Monday.
Asian shares reversed losses and were trading in the positive territory helped by a rally in Japanese and Chinese equities. Japan’s Nikkei was trading 1.60% higher and Topix gained 1.43%. China’s CSI 300 was up 0.45% and Hang Seng jumped 1.78%.
Indian rupee fell 21 paise to 74.98 against the US dollar on Friday.
Tata Metaliks, Delta Corp, Krsnaa Diagnostics, Ramkrishna Forgings, Saregama India, HFCL, Tinplate Company of India
FII/DII trading data on Friday (08-10-2021)
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|*All numbers are in INR crore|
Stocks in News Today
Tata Consultancy Services: The IT services company said on Friday late evening that its net profit for the quarter ended September 2021 rose 28.75% to Rs 9,624 crore compared to Rs 7,475 in the same quarter last year. On a sequential basis, profits rose 6.84% over the first quarter. Revenue from operations was up 16.77% year-on-year to Rs 46,867 crore from Rs 40,135 crore.
Reliance Industries: The company’s subsidiary Reliance New Energy Solar has acquired REC Solar Holdings AS (REC Group) from China National Bluestar (Group) for an enterprise valuation of $771 million. REC has over 600 utility and design patents, of which 446 are granted and balance are under evaluation, according to RIL. REC has a capacity to produce 1.8 gigawatts (GW) of solar panels annually. It has installed solar power generation capacity of 10 GW around the world.
Maruti Suzuki: The largest carmaker in India is increasing the number of its mobile service vans to more than 300 by the end of this fiscal year under its Service on Wheels initiative, according to a senior company official. This is due to the increase in demand for doorstep servicing of vehicles because of the pandemic. The company’s Senior Executive Director, Service, Partho Banerjee said the its pace of growth was to the tune of 20 per cent in the second quarter.
Jindal Steel and Power: The company’s Managing Director V R Sharma said that the domestic industry must start using coal through gasification technology, emphasising that the process is environment-friendly and carbon emissions are minimal. He added that the gasification technology will also help the country to overcome the shortage of oil, gas, methanol, ammonia, urea and other products, making the country Aatmanirbhar.
Ultratech Ltd: The company has won a limestone block, which has reserves of 209.77 million tonnes, in Madhya Pradesh. Ramstahn Ghunchihai limestone mine was auctioned during the current fiscal year. According to the mines ministry, the limestone mine is one of the five mineral blocks that has been successfully sold in fiscal 2022.
NTPC: The PSU enterprise said it has paid the final dividend of Rs 3,054.45 crore, being 31.5% of the company’s paid-up equity share capital, for the fiscal year 2021. This is the 28th consecutive year that NTPC has paid a dividend.